Italy to Extend Fuel Excise Duty Amid Surging Energy Prices and Supply Risks
Government Measures to Address Energy Price Surge
ROME, May 19 (Reuters) - Italy will prolong a cut in fuel excise duties due to expire on May 22 as part of efforts to curb surging energy prices due to the conflict in the Middle East, a top government minister said on Tuesday.
Official Statement on Excise Duty Extension
"We will certainly have to extend the excise cut," Deputy Prime Minister and Transport and Infrastructure Minister Matteo Salvini said in an interview with RTL 102.5 radio.
Financial Impact and Previous Extensions
Italy has so far spent around 1 billion euros ($1.16 billion) to cut excise duties on petrol and diesel pump prices. The measure was introduced in March and first extended in late April.
Italy's Energy Dependency and Supply Risks
Being highly dependent on imported energy, Italy is particularly vulnerable to supply disruptions linked to the U.S.-Israeli conflict with Iran.
Support for Transport Sector
Truck Drivers' Planned Strike
Salvini said the excise discount was not enough for truck drivers, who are planning a nationwide strike next week. He said the government would meet freight transport associations on Friday to revive a tax credit measure and find "several hundred million euros" to support the sector.
Government Response to Strike Threat
"They are right," Salvini said of the planned strike.
Exchange Rate Information
($1 = 0.8596 euros)
Reporting Credits
(Reporting by Francesca Piscioneri, editing by Alvise Armellini)
